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Overdraft Service


A checking account feature in which you can tie your savings account or a line of credit to your checking which allows you to write checks for more than the actual account balance. Instead of getting charged about $27 for bouncing a check, overdraft service will in effect provide the account holder with an instant loan.

Benefits:

  • Easy and FREE to setup - Only pay for Overdraft Service if you use it. No charge to sign-up.

  • Save Money - Help to avoid paying fees for overdrawing your checking account. Helps avoid fees from creditors such as returned check fees, or late fees.

  • Peace of Mind - Mistakes can happen, but with Overdraft Service, you can help ensure your checking account is covered.

How it Works:

  • If you write a check, authorize a payment or take a cash withdrawal when there are not enough funds in your checking account, funds will be transferred from your Overdraft Service account to your checking account to cover the amount.

  • Funds will only be transferred once per business day.

  • One Overdraft Service account can be linked to several checking accounts for coverage.
 FDIC Insurance
Through CDARS®


How does CDARS® work?

Banks that offer CDARS® are members of a special network. When you place a large deposit with Bank of Commerce we use the CDARS® service to place your funds into CDs issued by other members of the network. This occurs in increments of less than $250,000 to ensure that both principal and interest are eligible for full FDIC protection. Other network members do the same thing with their customers’ funds. With help from a sophisticated matching system, banks exchange funds with other members of the network. These exchanges, which occur on a dollar-to-dollar basis, bring the full amount of your original deposit back to the bank.

As a result, Bank of Commerce can make the full amount of the deposit available for community lending purposes (the money stays local!).

 
 Safety Deposit Box


Let us help you protect important documents and valuables that would be difficult or impossible to replace.

Items that can be protected in a Bank of Commerce safe deposit box include, but are not limited to:

·        Automobile lease agreements
·        Automobile titles
·        Birth certificates
·        Confidential items and documents
·        Employee benefit records
·        Household inventory list and photos
·        Income tax records
·        Insurance policies
·        Jewelry
·        Loan documents
·        Marriage license
·        Property deeds
·        Rare coins and stamps
·        Stock certificates
·        Savings bonds
·        Trust documents
 
 
You’ll be surprised at the variety of box sizes that can accommodate just about any need. Your annual rental fee is conveniently deducted from your Bank of Commerce checking or savings account.
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